Each year, we publish dozens of articles on our blog discussing topics of interest to individual and corporate taxpayers in Virginia. In 2022, we covered topics ranging from Paycheck Protection Program (PPP) fraud and cryptocurrency tax evasion to the rules regarding charitable distributions and offshore bank accounts. Here are some of the highlights.

Taxpayers who fail to timely meet their obligations to the IRS can face immediate penalty liability. Penalties for late filings and payments are in addition to the interest that accrues on any taxes owed, and interest accrues on taxpayers’ penalty liability as well.